My Way News - China vows tough reforms, stronger defense
My Way News reports: "China announced a 12.2 percent increase in military spending to $132
billion. That followed last year's 10.7 percent increase to $114
billion, giving China the second-highest defense budget for any nation
behind the United States, which spent $600.4 billion on its military
last year.
Increases in China's military budget have regularly exceeded both total
increases in government spending and the nation's rate of economic
growth. That has allowed lavish spending on new hardware and better
conditions for soldiers, raising concerns about how China intends to use
its new-found power amid a rise in tensions with Japan over uninhabited
islands in the East China Sea."
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